IDT (NYSE:IDT) Hits New 12-Month High – Should You Buy?

IDT Corporation (NYSE:IDT) shares hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $81.84 and last traded at $81.7170, with a volume of 192924 shares changing hands. The stock had previously closed at $78.98.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on IDT shares. Weiss Ratings restated a “hold (c+)” rating on shares of IDT in a research report on Tuesday, September 22nd. Freedom Broker raised their price objective on IDT from $75.00 to $85.00 and gave the stock a “buy” rating in a report on Wednesday, September 30th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, IDT presently has an average rating of “Moderate Buy” and an average target price of $85.00.

IDT Stock Up 1.5%

The firm has a market capitalization of $1.99 billion, a price-to-earnings ratio of 23.20 and a beta of 0.60. The stock’s 50 day moving average price is $68.70 and its two-hundred day moving average price is $59.19.

IDT (NYSE:IDT) last posted its quarterly earnings data on Monday, September 28th. The utilities provider reported $0.94 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.04). IDT had a return on equity of 24.22% and a net margin of 6.67%.The firm had revenue of $338.98 million for the quarter, compared to the consensus estimate of $319.00 million.

IDT Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 14th. Stockholders of record on Monday, October 5th will be given a dividend of $0.07 per share. The ex-dividend date is Monday, October 5th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 0.3%. IDT’s payout ratio is presently 8.07%.

Institutional Trading of IDT

A number of hedge funds have recently modified their holdings of the company. Integrated Wealth Concepts LLC bought a new position in shares of IDT during the 2nd quarter valued at about $25,000. Nykredit A S acquired a new position in shares of IDT in the second quarter valued at about $32,000. Allworth Financial LP increased its stake in IDT by 531.1% during the 2nd quarter. Allworth Financial LP now owns 568 shares of the utilities provider’s stock worth $33,000 after acquiring an additional 478 shares during the period. Corient Private Wealth LP bought a new position in IDT in the second quarter valued at about $252,000. Finally, Entropy Technologies LP bought a new position in IDT in the 1st quarter valued at approximately $264,000. 59.34% of the stock is currently owned by institutional investors and hedge funds.

IDT Company Profile

IDT Corporation (NYSE: IDT) is a telecommunications and fintech company founded in 1990 by Howard Jonas. The company began as an international long-distance provider and has expanded into consumer communications, payment services and technology solutions for businesses and independent retailers.

Through its BOSS Revolution brand, IDT offers international calling, prepaid wireless services, mobile airtime and data top-ups, and international money-transfer services. Its communications operations also provide wholesale voice services and related connectivity solutions to carriers and other communications providers in markets worldwide.

IDT’s National Retail Solutions business provides independent retailers with point-of-sale technology, payment processing, business services and related tools.